Posted by cc on June 07, 2000 at 17:53:09:
I am in SC.
1st deal - Posted by cc
Posted by cc on June 06, 2000 at 20:50:29:
I did my first almost Lonnie deal today. I bought a 1986 14 x 70 about 2 weeks ago for 1400 and paid a little over 200 in back taxes on it. I made arrangements to leave it where it was for up to 6 months. I sold it today for $5,000. 2,500 now and another 2,500 in 90 days. The buyers are paying to have it moved, and I am going to contract out the work at a small profit on the move & set- up.
What is the yield on this?
I still have found no parks to do Lonnie deals in, however I am still looking. Most of the parks I found fall into one of 2 categories. The owner owns all the homes, or they want all the older homes moved out and the ones coming in must be under 5 years old.
Re: 1st deal - Posted by Kristine
Posted by Kristine on June 07, 2000 at 13:18:22:
Congrats on your first deal. I don’t know how to figure yield on this kind of deal, but you more than tripled your money in 90 days. That would be good enough for me! Plus you are marking up the move and set-up. Very sweet. Would be interested to know where you’re located. I have similar problems finding parks to work in. Closest thing I’ve found is 45 miles away from home, purchases prices probably minimum $7000.00 - $12,000.00. But there is a market for those homes on terms, at least.
Well, now you have money for more deals. Get to work. Keep us posted.
Sincerely,
Kristine